DNO ASA — Major Shareholding Notification 2010

Jan 22, 2010

Disclosure of shareholdings

As of the close of business 20 January 2010, OFI had

voting and/or dispositive power with respect to an

aggregate of 46,212,020 shares of the Company's, DNO

International ASA, Common Stock on behalf of various

OFI Clients. Our records indicate that OFI currently

holds 5.11% of the outstanding shares of the Company

on behalf of OFI Clients. The above percentage was

calculated based on our understanding that the

Company has 904,856,912 shares of Common Stock

outstanding. The percentage increase above the 5%

reporting threshold occurred through a purchase of

1,668,000 shares of common stock of the issuer on 20

January 2010.

OppenheimerFunds, Inc